
\begin{table}[htbp]
\begin{center}
\begin{scriptsize}
\begin{tabular}{l D{.}{.}{4.5} D{.}{.}{4.4} D{.}{.}{4.5} D{.}{.}{4.4} D{.}{.}{4.5} D{.}{.}{4.5}}
\toprule
 & \multicolumn{1}{c}{Model 1} & \multicolumn{1}{c}{Model 2} & \multicolumn{1}{c}{Model 3} & \multicolumn{1}{c}{Model 4} & \multicolumn{1}{c}{Model 5} & \multicolumn{1}{c}{Model 6} \\
\midrule
GDP Output Gap                    & -0.65^{***}             & -0.22^{**}              & -0.25^{***}             & -0.17^{**}              & -0.04                   & 0.24^{**}               \\
                                  & (0.15)                  & (0.09)                  & (0.08)                  & (0.09)                  & (0.08)                  & (0.09)                  \\
Democracy                         &                         &                         & -0.63                   & -0.65                   & 0.67                    & 0.61                    \\
                                  &                         &                         & (0.42)                  & (0.42)                  & (0.43)                  & (0.42)                  \\
Democracy $\times$ GDP Output Gap &                         &                         &                         & -0.43^{**}              & -0.36^{**}              & -0.61^{***}             \\
                                  &                         &                         &                         & (0.18)                  & (0.18)                  & (0.18)                  \\
State Capacity                    &                         &                         &                         &                         & -6.04^{***}             & -5.60^{***}             \\
                                  &                         &                         &                         &                         & (0.46)                  & (0.49)                  \\
Imports                           &                         &                         &                         &                         &                         & 0.04^{***}              \\
                                  &                         &                         &                         &                         &                         & (0.02)                  \\
Exports                           &                         &                         &                         &                         &                         & -0.03^{**}              \\
                                  &                         &                         &                         &                         &                         & (0.02)                  \\
Population (log)                  &                         &                         &                         &                         &                         & 6.18^{***}              \\
                                  &                         &                         &                         &                         &                         & (1.27)                  \\
Real GDP per capita (log)         &                         &                         &                         &                         &                         & -3.38^{***}             \\
                                  &                         &                         &                         &                         &                         & (0.61)                  \\
Electricity Consumption           &                         &                         &                         &                         &                         & -0.00^{***}             \\
                                  &                         &                         &                         &                         &                         & (0.00)                  \\
Population Density                &                         &                         &                         &                         &                         & -0.00                   \\
                                  &                         &                         &                         &                         &                         & (0.00)                  \\
\midrule
Year dummies                      & \multicolumn{1}{c}{Yes} & \multicolumn{1}{c}{Yes} & \multicolumn{1}{c}{Yes} & \multicolumn{1}{c}{Yes} & \multicolumn{1}{c}{Yes} & \multicolumn{1}{c}{Yes} \\
Country fixed-effects             & \multicolumn{1}{c}{Yes} & \multicolumn{1}{c}{Yes} & \multicolumn{1}{c}{Yes} & \multicolumn{1}{c}{Yes} & \multicolumn{1}{c}{Yes} & \multicolumn{1}{c}{Yes} \\
Number of countries               & 66                      & 84                      & 111                     & 111                     & 109                     & 107                     \\
Adj. R$^2$                        & 0.66                    & 0.56                    & 0.56                    & 0.56                    & 0.57                    & 0.60                    \\
Num. obs.                         & 1593                    & 2145                    & 3738                    & 3738                    & 3667                    & 3381                    \\
\bottomrule
\multicolumn{7}{l}{\tiny{$^{***}p<0.01$; $^{**}p<0.05$; $^{*}p<0.1$}}
\end{tabular}
\end{scriptsize}
\caption{Ciclicality of Electricity Losses in Autocracies and Democracies (1971 - 2014)}
\label{tab:2wfe_robust_lags_levels}
\end{center}
\end{table}
